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Nikkei drops on profit-taking, semiconductor stocks slump

Published 14-07-2020, 12:03 pm
© Reuters.
JP225
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MSFT
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AMZN
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IXIC
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TOPX
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7735
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8035
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6702
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6758
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6857
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6954
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9984
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IAIRL.T
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IFISH.T
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IRAIL.T
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TOKYO, July 14 (Reuters) - Japanese shares ended lower on Tuesday as investors booked profits after a sharp gain in the previous session, while semiconductor and other high-tech firms' stocks took a hit following overnight weakness in U.S. peers on Nasdaq.

The benchmark Nikkei share average .N225 slipped 0.87% to close at 22,587.01, after hitting a one-month high in the previous session. There were 83 advancers against 135 decliners on the index.

In the broader market, Topix .TOPX fell 0.5% to 1,565.15, following a 2.46% jump in the previous session.

All but seven of the 33 industry subindexes in the Tokyo Stock Exchange were in negative territory, with fishery and forestry .IFISH.T , airlines .IAIRL.T and land transport .IRAIL.T leading the losses.

Semiconductor shares were bruised by a 2.13% drop on the Nasdaq Composite index .IXIC , which was pulled down by Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT) and other big-name leaders of Wall Street's recent rally as fresh coronavirus restrictions in California and mounting U.S.-China tensions triggered a selloff. .N

Advantest Corp 6857.T slipped 2.43%, while Screen Holdings Co Ltd 7735.T and Tokyo Electron Ltd 8035.T fell 2.41% and 1.45%, respectively.

Other high-tech shares also underperformed, with Fujitsu Ltd 6702.T falling 0.3% and Fanuc Ltd 6954.T dipping 0.69%.

Sony Corp 6758.T dropped 1.98%, after reaching its highest level since 2001 in the previous session.

Elsewhere, Nikkei heavyweight SoftBank Group Corp 9984.T fell 1.36% after a Wall Street report said the tech conglomerate is exploring options including a full or partial sale or public offering of British chip designer Arm Holdings.

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